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China Manufacturing Activity Slowed in May Amid Higher Oil Prices
Official data showed Chinese factory output declined in May. Rising oil prices linked to the Iran conflict contributed to the slowdown, while exports stayed above last year's levels.
May 31, 6:28 PM·1m read1 source
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China's manufacturing activity slowed in May, according to new data reported by Semafor. The decline occurred as oil prices rose during the Iran conflict. Beijing has maintained crude stockpiles and a diverse energy mix that have limited direct effects from the conflict so far.
Despite this buffer, higher energy costs weighed on factory output. Exports remained above 2025 record levels, supported by global data center construction. Economists cited in the Semafor report do not expect broad stimulus measures while overseas shipments stay strong.
Domestic consumer spending showed weakness. Pork prices fell due to oversupply and reduced demand. The combination of firm exports and softer internal consumption leaves Chinese policymakers with mixed signals on the need for additional support.
Transparency
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